Loews Heir's $16 Million Sears Stock Buy

Sears director Thomas Tisch bought 475,000 shares of the retailer.

A Sears Holdings director recently purchased nearly $16 million in shares of the troubled retailer in the first purchase on the open market by an insider in over a year. The purchase came just days after Sears completed the spinoff of Lands' End.

On April 15 and 16, director Thomas J. Tisch bought 475,000 Sears (ticker: SHLD) shares for $15,940,000, an average of $33.50 each. This is his first open-market transaction of Sears shares....